Applying for a loan is not only giving money on a refundable basis, but it also begins to form a record of everything you do related to credit and loans, for this reason this question will be answered here How do I know if I am eligible for a loan?
What is the Argentina credit history?
He credit history is known as the report on the loans and credits that a person hasincluding their installments, when they received the money and the interest that has accumulated, that is, everything, everything that a person does or allows to do in relation to the loan and credit that they make.
Even though in the record Everything related to a person’s credit activity appears, this has an expiration time, since the history can only last 5 years, since the law prohibits having the data of a person exposed for more than that time.
On the other hand the credit historyIt works like a letter so that the banks have all the information about the credits you have, so when you are going to request a loan in it or credits, they are aware of how you handle this type of procedure to see if they grant the money or No.
Benefits of having a good credit history
having a good credit history It does not only imply having the same out of debt, but the form in which it is found, that is, that the person pays the credit in the corresponding installments and does not have any type of delay.
Having everything up to date with your credits and loans is because you can enjoy these benefits:
You can ask for more loans
with a good record Leave faith that you are a trustworthy and responsible person, which motivates the lending companies to give you the money you need without many setbacks.
The best thing to do is that you only request the credits and loans that you can pay, since debts can become a sea in which you can drown.
Receive more money in a loan
Companies that are dedicated to granting loans and credits need to know how responsible people are with payments, so that when they need a considerable amount of money, there is no fear that this money will not be returned.
In this way the person can receive the credit will have no problems, thus they have the power to alleviate the need to buy or pay for what they are requesting considerable borrowing money for.
Attractive credit or loan terms
By having a good credit historythere is the possibility that the interest imposed by the company that gives the credit or loan, at the same time becomes a person with whom you can receive all the credits and loans you need.
It is worth mentioning that being recognized as a person who pays his debts on time, does not require many procedures to receive a new credit, since he is a person with the responsibility of responding to his outstanding debts.
Tranquility that no money can buy
There is nothing better than being calm and it is something that does not have a monetary price, for this reason it is advisable to always keep everything related to your debts up to date, thus alleviating all the problems that a person may have.
Requirements to be eligible for a loan
In the event that you want to know what a person needs to be able to acquire a loan, it is necessary to have certain parameters that are required by a company dedicated to giving a loan or credit.
These are the requirements that a person must have to acquire a loan:
- It is mandatory that the person who is going to apply for a loan is adultbut it can exceed 70 years, although this age limit is only applied by some companies.
- Have a fixed incomeof course you have to have some documentation that validates this information.
- Document that validates the address where you livethe origin of this document can be any and it will only indicate the company where you request the loan.
- Depending on where you apply for the credit or the loan, it is likely that they will request the credit scorewhich has to be good.
- can also be borrowed endorsements or guaranteewhich will depend on where the credit is going to be requested.
There may be more requirements, but that will only be determined by the company where the credit is requested, since as each company has its own policies and requirements, which a person must comply with each person if they want the money to be delivered.
If I have no credit history and I want a loan, what should I do?
Actually in not having a credit history It does not affect applying for a loan, but there are many companies that refrain from delivering it because they prefer a person with experience in debt management.
Surely after reading the last paragraph it causes you to ask yourself the question of How do I know if I am eligible for a loan? Well, the first thing to do is look for a company that does not have many demands to make a loan.
After obtaining the loan, the roots begin to form to obtain a good credit historywhich is done by paying the established installments up to date.
But it is recommended that if you are going to request a loan, you have to be aware that it is money that has to be paid, therefore it is of the utmost importance that if you are going to request a loan, have enough income to be able to pay it.
How do I know if I am eligible for a loan?
This question is simple to answer, because applying for a loan It has to do more than everything with whether you have the resources to pay for itsince not everything in this life has to solve a problem by creating another.
Because as they say out there sometimes the cure is worse than the disease For this reason, you have to think carefully before applying for a loan.
There is also the option to where to apply for credit that is needed, since the conditions of the loan cannot be comfortable with the passing of time, these because the interest rates can cause the debt to triple and spend more than what is needed.
Of course the idea of interest is to make a profit from lending money, but it is somewhat obsessive to earn three times more than what was lent.
If you say many words, you know that you are ready to ask for a loan when, if you have the necessary source of income to pay this loan and above all you already know where you can request this money.
For this reason, everyone must be clear that they really need the borrowed money and that the person who is going to make the loan is a trusted entity that is only going to charge what is fair for it.
Because of all that has just been mentioned, people have a tool to think better about How do I know if I am eligible for a loan? Because a loan can be both a solution and a sentence if you do not have the resources to pay off this debt.